FTX boss relies on these two “Ethereum destroyers” for the next two years.
FTX exchange CEO Sam Bankman-Fried believes both SOL and AVAX are well positioned in the market over the next two years.
In one podcast Recently, the CEO of FTX stated that alongside crypto OGs BTC and ETH, he thinks the above two altcoins are very promising.
The Relative Strength Index (RSI) at its recent prices indicates an oversold or undervalued market for SOL.
However, Bankman-Fried argues that SOL “did something very few chains didn’t even think to test.” Regarding the scaling problem he said:
“They’re one of the few chains with a truly future-proof path to scaling to the levels you need to reach if you want to use it on an industrial scale.”
Despite this, one of the best performing coins of 2021 under $100 is struggling. The Sharpe ratio for one year shows this very well. It fell short in the short term due to widespread weakness. At the time of analysis, the Sharpe Ratio (30D) is -6.8, a far cry from the peak of 2.77.
With AVAX maintaining an RSI above 30, Bankman-Fried saw huge potential for the chain. He believes the team behind the project knows what they’re doing, but expects more in terms of scaling.
“It doesn’t mean I know best and she doesn’t. In the end, they can be on the right track, which needs to be prioritized.”
He added that it was “a real show, a great show, and I think there’s a world where it’s going to be absolutely huge.”
It’s worth noting, however, that AVAX was unable to replicate the same performance in the short term given broad market weakness. While its Sharpe Ratio (1Y) stands at an impressive 1.8, the indicator has been negative for the past 30 days. In particular, this ratio may not be the best indicator given the turbulence the market has been experiencing lately, which has been most severe after July 2021.
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